CA.VIKRAM KUMAR

               Is Legal heir and Nominee the same?                I wonder how many of us are aware of this legal twist. Will your Nominee get the money on your death? Did you think that your nominee is the person, who will get all the money legally from your Life Insurance Policy and Mutual funds investments? Ha! That is exactly what you think if you are not aware of the legal aspects. We assume a lot of things which sounds like they are obvious, but are not true from the legal point of view. Today, we all concentrate on nominations in financial products. For whom are we earning? For whom are we investing? Who, do we want to leave all our wealth to, in case something happens to us? It might be your children, your spouse, parents, siblings etc., or just a subset of these. You also might want to exclude some people from your list of beneficiaries! So, you think you will nominate person X in your Insurance po...